Sunday Observer Online
 

Home

Sunday, 3 May 2009

Untitled-1

observer
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

Apparel industry steady

The apparel industry shows signs of a recovery, said the acting Secretary General of the Joint Apparel Association Forum (JAAF) Rohan Masakorala.

According to the first quarter export statistics there is no big decline and during the last two months there is an increase in exports.

New orders are being received and there is an increase in demand. We expect that markets will recover in the second quarter, Masakorala said.

Group Director of the MAS Holdings, one of the leading apparel exporters in the, Dian Gomas confirmed the position of the industry and said that the first quarter is good and industry and the individual companies are very aggressive and they are very positive of the second quarter.

Masakorala said that there are several factors that has contributed for this optimism. One is the government’s reward scheme for export industries.

Now our manufacturers can go for competitive price. We also expect that the markets will recover.

Depreciation of Sri Lankan rupee will also be a strong positive factor. The export industries continuously demand a gradual depreciation of the rupee. However, there is a sudden depreciation and during the April Sri Lankan rupee has depreciated by 5.1% against the US$. This is very big plus factor.

The exchange rate policy has put our export industries at very disadvantage position in the competitive international market. Most of our competitors have depreciated their currencies.

The depreciation of rupee is a big cost mitigation factor and we expect that the Central Bank will not intervene and stop it, he said. Masakorala said that large number of factories have been closed down last few months due to different reasons.

However, this new trend will end the crisis in the industry and will stop closing down factories and lay off workers, he said. (GW)

 

EMAIL |   PRINTABLE VIEW | FEEDBACK

www.lankafood.com
Ceylinco Banyan Villas
www.news.lk
www.defence.lk
Donate Now | defence.lk
www.apiwenuwenapi.co.uk
LANKAPUVATH - National News Agency of Sri Lanka
www.peaceinsrilanka.org
www.army.lk
 

| News | Editorial | Business | Features | Political | Security | Spectrum | Impact | Sports | World | Panorama | Junior | Letters | Obituaries |

 
 

Produced by Lake House Copyright © 2009 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor